DeNA profits take a nosedive, as virtual currency consumption drops

Newsbrief: Japanese mobile game company DeNA saw its profits take a dive during the last fiscal quarter, as consumption of the company's virtual currency dipped year-over-year.

Consumption of DeNA's Coin currency in Japan was 37.6 billion yen ($367.2 million) during the first quarter, down 14 percent year-over-year, with total Coin consumption in other regions was just over $40 million.

As a result, for the quarter ended June 30, 2014, DeNA recorded revenues of 35.8 billion yen ($349.8 million), down 31 percent year-over-year, and profits of 3.8 billion yen ($37.1 million), down 61 percent year-over-year.